NetClose Release Notes 2/21/24

NetClose 2024.6.0

Accrual Updates  

Match and adjust accruals 

  • A match & adjust accruals button was added to the match accruals page that allows users to bypass the adjustment step and have a transaction matched to an accrual immediately adjust that accrual. 

Auto-approvals 

  • A global setting was added to the NetClose > System Setup > System Features tab that allows users to have accrual adjustments automatically approved based on a users NetSuite approvals.  

Amortization Updates 

Amortization journal entry posting date 

  • Users can now change the date that amortization journal entries should post on when they are made by NetClose Amortizations in the NetClose System Setup Page.  

Flag for mass update 

  • Users can now filter for transactions that were flagged for mass update on the Generate Schedules, Commence, Run Journals, and Transfer NetClose Amortization Pages.  

Create from Transactions Page remove from queue 

  • Transactions can now be removed from the queue on the Create from Transactions without having to fill out any information on the selected rows. 

Create from Transactions Page mass update 

  • To aid in creating single amortizations from multiple transactions users can now mass update selected rows with the mass update button so that all rows include the same information and can be combined into a single amortization. 

Create from Transactions Page sourcing 

  • Values populated on the Create from Transactions page for each transaction can now be manually updated before generating the amortization. 

UI updates 

  • The Amortization module has been updated to new components to create an easier-to-use interface when creating and managing amortizations.  

  • Additional filters and columns were added to the Create from Transactions page.  

Flux Updates  

Additional periods in flux analysis 

  • When reviewing a flux analysis, users can now add additional periods to the table to provide context to the fluctuation analysis between the current and comparison period.  

  • The field to add additional periods can be found under the “Flux Trends” header on the review flux analysis page.  

Budget to actual flux analysis  

  • When generating a flux scenario, users can now select a native NetSuite budget category and use budgeted amounts rather than values from a comparison period in a flux analysis. 

Reconciliations Updates  

UI changes 

  • Updated reconciliation segment fields to re-sizable area fields. 

  • Users can now hold the “Control” key on Windows and “Command” key on Macs and click in the reconciliations table to select more than one reconciliation. 

Document management 

  • The document management tab was enhanced so that if a file is uploaded directly in the document management tab then the script to create an item and update the relevant balances will be triggered.  

Non-primary book reconciliations 

  • Users can now add accounting book as a field on their reconciliations to generate reconciliations for the primary book and other non-primary books for the same accounts and subsidiaries.  

Assignee and Approver override fields 

  • Users can now set specific Assignee and Approver(s) on each Account record that will be used in place of the default Assignee and Approver(s) that is set on the reconciliation Account Grouping.  

Generate reconciliations page 

  • A text search filter was added to the generate reconciliations page. 

Microsoft File Management Fields 

  • We have added a Graph Drive ID and Graph Folder ID field to the Microsoft File Management Tab. For users that know the Microsoft Drive ID and Folder ID that they want to use for reconciliations, these fields can be used. However, these fields will override what is in the Site Name and Folder Path fields and are not required or necessary. Users utilizing the Site Name and Folder Path fields can continue to do so.   

Tasks Updates  

Mass update feature 

  • The tasks mass update feature can now be used to update the status of a reconciliation and the assignee of a reconciliation. 

Task list and board filters 

  • The filters on the task pages have been updated to multi-select filters. 

  • A global search filter has been added for users to search through any visible information inside the table. 

Weekly task frequency 

  • Added the ability to create tasks on a weekly frequency. 

In-line actions 

  • Buttons were added inside each line of the task list so that preparers and approvers can move individual tasks through the preparation and approval process directly from the table.  

  • If a comment is left on a task a comment icon will now appear that can be clicked to open the comment dialogue window.  

Column updates 

  • Columns inside the task list are now sortable and can be moved to other positions within the table. 

Grouping 

  • The task list can now be grouped by NetClose Task Type or Classification. 

Sorting 

  • The task board can now be sorted by importance or due date. 

Reviewers 

  • Tasks now have multiple reviewers and due dates for reviewers. There are three options for reviewer due dates: relative due date, absolute due date, from assignee due date. 

Updating templates 

  • Users now have the option to save changes made in the tasks dialogue popup to just the current period task or to the task template so that they will be reflected going forward.   

Custom field sourcing 

  • Users can now create custom sourcing to add new fields to NetClose Task Records and filter off those fields. 

Bug Fixes 

Amortization waterfall report calculation 

  • A bug was fixed that was interfering with the calculations on the amortization waterfall report when using negative amortizations. 

Amortization partial period with a term of one 

  • A bug was fixed that was causing the date of the amortization expense journal to be posted incorrectly if a partial period calculation was selected by the term was less than one month. 

Flux analysis thresholds 

  • A bug was fixed that was causing flux analysis to incorrectly determine which flux analysis records required explanations for certain scenarios.  

Comment mentioning 

  • A bug was fixed that was preventing users from using ‘@’ to mention other users in comments in Netclose. 

Reconciling items with an amount of zero 

  • A bug was fixed that was preventing users from importing reconciling items that had a value of zero. 

 

 

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